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been about qe-3. the concern we've had in the last few weeks other than earnings has been a romney presidency, means bernanke gets replaced. that's what's driving markets. unfortunately, the answer for investors is going to have to be the election and who replaces bernanke over the next six months or so. once you get past that, i think you can get back into ma wha the policy differences would be. for now, i would stay neutral to long stocks because i'm not 100% sure that romney is going to win, but if i thought he was going to win, i think that would be a short-term negative only because it changes the equation with with the fed and not necessarily with policy. >> so short term negative for stocks? >> no, short-term -- >> because there's a real debate there. the equity guys say romney would be a short-term positive for equities. >> if romney's elected and bernanke leaves, that changes the equation. that's, i think, a concern that's been in the market for the last week or so. i understand what they're saying about the short-term positive. but i think this market's about monetary sti
to go deeper into it unfortunately. even if romney wins, we'll continue to repeat the same mistakes. obama is repeating the mistakes much bush and the fed is still there, ben bernanke has been repeating the mistakes of gre greenspan. jo think we have change until we have a monetary crisis. that is looming on the horizon sometime soon. >> folks, thank you for joining us. we'll see what happens here as we head into the final hour of trade. >> bob insana was driving the market? >> the fact that apple isn't having the volatility that people thought. we were lower, 1.5% to the downside but apple is essentially flat on the day on huge volume. north of 30 million shares, that's what driving things today. there's a lot of talk about the impact of hurricane sandy but not a lot on the stock market. there's been play on roofing and water proofing company up a little bit here. rpm and wr grace do a lot of water proofing but i don't see heavy volume. insurance companies, understandably, some of the ones with exposures, little weak. travelers and chubb, not big volume in them. whitewave foods thi
of the year. the market wants romney to win. the market's going to rally if he wins. the market's going to sell off if obama wins. from here until two weeks from today, i think the market's going to continue under pressure. the question s do we continue with that pressure into year end or do we reverse it on an emotional high from a romney victory? 2013 is going to be a different story, but the last two months of the year will be purely on election emotion. >> and let me bring up another point. there was a story in "the new york times" this morning that ben bernanke is telling people privately he doesn't want a third term as fed chairman at this point. how much of that could be part of the selloff? >> i wouldn't link it to a rumor. it's too broad based and seems to be too much tied to the earnings announcements. having said that, while i think an election is important, i'm not sure which candidate is actually going to be good for the market. the reason is, to the extent we see a significant pullback on the spending, even by the government, i'm not sure that's going to be particularly po
? if governor romney gets elected, he says he's going to make changes and repeal aspects of the law. how do you see this playing out? >> he's not going to be able to repeal it because the republicans have voted many, many times in the house and haven't voted to repeal any aspect of the reform bill. it's popular with the public. it's the most popular thing we've done. what mr. romney would do if he got elected, which i do not expect, but if he were to be elected, he would appoint people who wouldn't operate it, who wouldn't use the rules. we'd go back to where we were before. we didn't have enough regulations, but we had some. we had regulators who wouldn't use. that's what would happen. as to the implementation, first of all, i'm happy with it. these are complicated things. look, one of the biggest problems we have, the biggest change i would have made if i had a magic wand, i would emerge the commodity exchange commission. it shouldn't overlap. one from the agriculture community, one from the financial. i'm very glad we were able to work it out. there are ten commissioners. you got to get six
ryan, mitt romney's running mate, has called the payroll tax cut sugar high economics. that 2% at a roll tax cut on wages is used to fund social security. aarp arguably the most powerful lobby for seniors says after two years a further extension sets a bad precedent in undermining funding for social security. it will be over the fate of the bush tax cuts especially for rich americans versus extending middle class tax cuts. so can we say negotiations? >> can we is the question. thanks, hampton. how will this battle play out? andrew fieldhouse is with economic policy institute. he says allowing social security tax cut to expire puts too much drag on the economy right now. alex is an economist and research fellow at the american enterprise institute who thinks the tax cut was and still is a bad idea. andrew, why should the payroll tax cut be extended? >> it's premature to withdraw any fiscal stimulus at this point. both sides of the aisle are concerned now that it will push the economy back into a recession. it's important to understand that expiring ad hoc fiscal stimulus is the
Search Results 0 to 4 of about 5